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. >>> there is some news on the economy and the jobs front tonight. citigroup announced it's laying off 11,000 people, about 4% of its work force, in an effort to cut costs and increase profits. third largest bank in the u.s. is closing 44 branches as a part of this which deals most of the job losses come from the consumer banking unit which deals with everyday banking transactions. >>> and on a day we were given stunning views, from nasa, about the very same planet, we also learned as our very own anne thompson reports, the arctic is continuing to break records, including greater melt of the ice sheet. and less snow records, it is unlikely, scientists say that conditions can be reversed any time soon. >>> still ahead for us with time running out on the way to a new deal. congress is running out of time, potentially a way to run the country off the fiscal cliff. >>> and later, how kate middleton got caught up in a royal hoax while hospitalized in london. th. so give unitedhealthcare a call today. consider a medicare advantage plan. it can combine doct
. >>> there is some news on the economy and the jobs front tonight. citigroup announced it's laying off 11,000 people, about 4% of its work force, in an effort to cut costs and increase profits. third largest bank in the u.s. is closing 44 branches as a part of this which deals most of the job losses come from the consumer banking unit which deals with everyday banking transactions. >>> and on a day we were given stunning views, from nasa, about the very same planet, we also...
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warned a congressional committee they would have just over a month to negotiate in 2013 before the economy falls apart. >> by mid-february, it will be doing a lot of damage. >> reporter: anticipating the fiscal cliff and massive layoffs that could come with it, democrats called on lawmakers to continue an extension to jobless benefits expiring this year. >> now they're at risk of losing their last lifeline. >> reporter: 25 days left, no deal yet. republicans are worried they may be losing ground on the tax hike debate. and a new poll shows the majority of voters trust the president and democrats on the issue. reporting live on capitol hill, danielle lee, news4. >>> polls show many americans want hillary clinton to run for president in 2016, but that doesn't seem to be on top of her to-do list as she steps down as secretary of state. mrs. clinton is in dublin ireland, today on one of one of her last foreign trips. she admitted she's looking forward to the quiet life. >> i'm, frankly, looking forward to returning to living a life that enjoys a lot of simple pleasures, and gives me time for f
warned a congressional committee they would have just over a month to negotiate in 2013 before the economy falls apart. >> by mid-february, it will be doing a lot of damage. >> reporter: anticipating the fiscal cliff and massive layoffs that could come with it, democrats called on lawmakers to continue an extension to jobless benefits expiring this year. >> now they're at risk of losing their last lifeline. >> reporter: 25 days left, no deal yet. republicans are worried...
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. >> you have said and we know the economy impacted donations, you think the election impacted -- >> this is my third presidential election. we find that our giving goes down beginning in september, significantly in october and november and then we try and recover in december. >> okay. is that what we are trying to do here today? >> it is. we have an acute need for new clothing and warm blankets for the homeless. the fiscal cliff issue has people hesitant about what to do with their finances. we hope people know there are a lot of desperate needs. >> the need is for donations. they collected and distributed blankets and warm coats. they need you to give. also, log on to gfsh.org to learn more about that organization. there's a link to them on our website, www.nbcwashington.com. barbara? >> thanks, pat. still ahead, people are secretly doing their holiday shopping. i'll tell you where. >>> plus, the battle of the beltway has this region torn. we'll explain. [ male announcer ] this commercial is not about getting fios; it's about getting fios. that moment after you finally got it, that
. >> you have said and we know the economy impacted donations, you think the election impacted -- >> this is my third presidential election. we find that our giving goes down beginning in september, significantly in october and november and then we try and recover in december. >> okay. is that what we are trying to do here today? >> it is. we have an acute need for new clothing and warm blankets for the homeless. the fiscal cliff issue has people hesitant about what to...
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the museum operators say that in order to save time and money in a sluggish economy, the decision was made to consolidate to a 23,000-square foot, $5 million museum. that will still offer interactive education families have come to expect from the children's museum. >> we're trying to promote global citizenship. we do it in a way that's very playful. >> reporter: this is my favorite exhibit. learning about food from all over the world. even if the food's not real. if you're interested in coming down to the children's museum, the grand opening is going to be december 14th. it will be open seven days a week and there's a $10 entrance fee. tracee wilkins, news4. >>> right now, president obama visited a northern virginia family today to put a face on the so-called fiscal cliff. tonight we talked with that family that's now in the national spotlight. >>> a well-known senator handed in his resignation today. >>> a few minutes ago the
the museum operators say that in order to save time and money in a sluggish economy, the decision was made to consolidate to a 23,000-square foot, $5 million museum. that will still offer interactive education families have come to expect from the children's museum. >> we're trying to promote global citizenship. we do it in a way that's very playful. >> reporter: this is my favorite exhibit. learning about food from all over the world. even if the food's not real. if you're...
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reporter: warning a congressional committee they would just have a month to negotiate in 2013 before the economy falls apart. >> by mid-february it will be doing a lot of damage. >> reporter: democrats called on lawmakers to continue an extension to jobless benefits expiring this year. >> now they're at risk of losing their last lifeline. >> reporter: 25 days left, no deal yet. republicans have word they may be losing ground on the tax hike debate. the latest poll shows the majority of voters actually trust the president and democrats on the issue. reporting live on capitol hill, i'm danielle lee, news4. >>> the santanas live in the falls church area in fairfax county. they did not expect to get a visit from the president just because they shared their story. julie carey sat down with them and asked what it's like now to be in the middle of this fight over the fiscal cliff. . >> reporter: the house you see behind me isn't exactly where tiffany santana and her extended family live. their door is around back. it leads to the basement apartment they rent for $2,000 a month. and today they became th
reporter: warning a congressional committee they would just have a month to negotiate in 2013 before the economy falls apart. >> by mid-february it will be doing a lot of damage. >> reporter: democrats called on lawmakers to continue an extension to jobless benefits expiring this year. >> now they're at risk of losing their last lifeline. >> reporter: 25 days left, no deal yet. republicans have word they may be losing ground on the tax hike debate. the latest poll shows...
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you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> let me ask you about a report that some republicans now are perhaps willing to see the tax rates rise to some degree on top earners in exchange for later getting a better deal on some of these spending cuts. but tieing it to that vote to raise the debt ceiling basically saying that debt ceiling vote is our point of leverage. do you agree with that approach? >> when they get to that, they'll do the same blood letting they did in august. that's the way that will be. but you can't get there -- the threats going back and forth, y
you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is...
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economy eased. the nikkei index right now trading at 9521, a gain of over .5% from wednesday's close. traders said positive remarks about a fiscal cliff deal by president obama are aiding share prices. i guess port-related issues are leading the gains as the weakening trend of the yen is continuing. so let's take a look at the currency markets. the dollar is higher against the yen. that's on better than expected nonmanufacturing data out of the u.s. 82.40-43. euro/yen, that's in the mid 107 yen levels this thursday morning. taking a look at other markets in the asia-pacific, south korea's companiespy is 1949. let's take a look at australia. the benchmark index is lower by about.25%, 4508. let's see where china takes us when they open the next hour. >>> european commission regulators have imposed a fine worth almost $2 billion for running two price-fixing cars sells. they say it's the highest-ever anti-trust penalty in their history. the commission leaders said they fined six companies a total of $1.
economy eased. the nikkei index right now trading at 9521, a gain of over .5% from wednesday's close. traders said positive remarks about a fiscal cliff deal by president obama are aiding share prices. i guess port-related issues are leading the gains as the weakening trend of the yen is continuing. so let's take a look at the currency markets. the dollar is higher against the yen. that's on better than expected nonmanufacturing data out of the u.s. 82.40-43. euro/yen, that's in the mid 107 yen...
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that'll be a problem for our economy. people will not be engaged unless they have clarity in this thing. i have more faith in this institution. after the end of the day, you do the right thing. if you look at the history of this body, it roughly comes up with the right answer. we have not dealt with the debt ceiling since the beginning of this country. i think we are very capable and we can do it. >> i will respond by saying that we have been trying to deal with our cascading debt and deficit for decades. i would say that we have been far short of doing the right wing -- right thing to look for a healthy fiscal future. >> thank you, senator. >> i agree that we usually do the right thing but only after we try everything else. the time has come. i see this as a scary time. we need to protect our fragile economy, but it is also an opportunity to move forward. i first question is based on your predictions -- what do you think the timeframe is for possible further downgrades from the crater agencies -- credit reating agencies?
that'll be a problem for our economy. people will not be engaged unless they have clarity in this thing. i have more faith in this institution. after the end of the day, you do the right thing. if you look at the history of this body, it roughly comes up with the right answer. we have not dealt with the debt ceiling since the beginning of this country. i think we are very capable and we can do it. >> i will respond by saying that we have been trying to deal with our cascading debt and...
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not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you said, there are places that business can succeed. is it government-infused money to get there, or is it going to be actual, real, american dollars in there? >> susan, that's really the opportunity. first of all, i don't think inflation is a concern for years. in order for inflation to be a concern it it has to get into the wage cycle. we're far from that. the needs are clear. ports, roads, transport rail and plus protection against extreme weather. on the other side demand. the demand for infrastructure investments isle comin
not a pro on the economy. i think we need to invest and there's a sweet spot comes up in infrastructure in particular that offers a real opportunity. >> jay, my question. as far as when you talk about that sweet spot, if we're going to start seeing inflation through the roof, i think a lot of people expect it if we come it to a deal with the fiscal cliff and get economic growth and get people investing, inflation will go up. so that is going to be a problem for american families. like you...
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. >> although that hurts the economy, too. >> everything hurts the economy. so it's a question of which is most -- or least harmful and that tends to be cutting government spending. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just a question of how much. >> we need to do both to do a deal. i don't think both sides dwre that it's the right thing to do. just to get a deal done. >> i think moderates in both parties -- >> people on the right think we're plenty big. and there are other people on the left that would like to do more social -- even grow government and pay for it up to 70%. so there are people. >> all right. when we come back, we'll talk about why manufacturing optimism is falling and falling fast. but first, gangnam style is on its way to racking up 1 billion views on youtube. with one song, this 34-year-old is set to become a
. >> although that hurts the economy, too. >> everything hurts the economy. so it's a question of which is most -- or least harmful and that tends to be cutting government spending. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just a...
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the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it
the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a...
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we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more cracks in the ranks. "washington post" reports some moderate and conservative republicans are calling on boehner to concede on taxes now while he still has leverage to ask for something in return likely sbiltsment reforms. larry hathaway joins us for more. wlarry, good to see you. geithner says do no harm but they're prepared to go over the cliff. >> i think it's rather disingenuous. the administration feel it is has wind in its sails from the election and is trying to push the mandate on the issue of mar again al tax rates. i think the risks of
we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be more...
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this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by reforming the tax code and passing responsible spending cuts in order to get our fiscal house in order. that's what america wants. the big things. this is our moment to provide that leadership that america desperately wants and we stand here ready to take the action necessary. >> the american people are hurting right now and now is the moment where we need to step up to the plate and solve the problem. i don't know how any of us can look our kids and grandkids in the eye and explain to them that we aren't willing to pay for the things we are enjoying today but just going to send them the bill. that's why republicans have the proposal on the table that fixes the problem, puts us on the course to solve the problem, which is the out-of- control spending side of the l
this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by reforming the tax code and passing responsible spending cuts in order to get our fiscal house in order. that's what america wants. the big things. this is our moment to provide that leadership that america desperately wants and we stand here...
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international competitors, our economy here in the uk is growing by 0.6%, whereas in germany, we've seen growth of 3.6%. in the u.s., growth of #.1% during the same period. so certainly not a cause for celebration. still a difficult operating environment. under the former chancellor's plan, we would have been borrowing less in the next three years. because the government has failed to get our economy growing and because the policies have pushed us into recent double dip recession, they'll be pr rowing 212 billion pounds more than they planned. put that in context, that is the equivalent of what we in the uk will be spending this financial year on health, transport and defense in aggregate. >> you were talking quite rightly about the low level of
international competitors, our economy here in the uk is growing by 0.6%, whereas in germany, we've seen growth of 3.6%. in the u.s., growth of #.1% during the same period. so certainly not a cause for celebration. still a difficult operating environment. under the former chancellor's plan, we would have been borrowing less in the next three years. because the government has failed to get our economy growing and because the policies have pushed us into recent double dip recession, they'll be pr...
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find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines in two cars a report on. max kaiser welcome to the kaiser report people of the united kingdom listen to me that's in your future and your future is scum villages and while babies at the newspaper say will look like this. yes i'm a i have the eyes of a cold hearted lizard but so does your future eating the mud pies of austerity and let's not be coy i think the best name for this baby will be snooki. stating. yes max well of course it's a big budget day in the united kingdom and it's of course celebrating everywhere you look you cannot escape every single paper. and will and kate it's never ending but with this austerity budget and with the celebration all the newspapers are talking about like the baby is going to cost two million dollars a year the first year for clothes just for clothes and yet any of the mothers in england are being told or of the united kingdom are being told we're going to slash your benefits we're going to make sure you're not you
find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines in two cars a report on. max kaiser welcome to the kaiser report people of the united kingdom listen to me that's in your future and your future is scum villages and while babies at the newspaper say will look like this. yes i'm a i have the eyes of a cold hearted lizard but so does your future eating the mud pies of austerity and let's not be coy i think the...
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i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many avenues to a victory right now but he's got a good escape, thomas. all john boehner has to do to exit out of this quickly is to say he won the election, we didn't, the american people in every survey say this is where we're going to go, we're going to go along with the wishes of the american people and the republicans would get goodwill for doing that. they have to get out of this ideological headrow that they're stuck in and do something for the company. >> the polls give them plausible acceptability of this plan of trying to move forward and, as you say, with the will of the american people
i do believe that this economy will continue to thrive, this economy will continue to move forward. i don't believe that we're going to go into a huge, deep recession again if these bush tax cuts expire. i do believe that you can strengthen the economy if you let everything go off the cliff and come back and put in front of the american people and do a better job for the economy. there's up side either way you go. the president has got boehner in an untenable position. he doesn't have very many...
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think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her numbers is 68% approve of the job she's done as secretary of state for this country. >>> welcome back to "hardball." we know now that mitt romney blames his loss on obama's gifts. i should put the quote marks around that. the much maligned 47% came out in force. last night paul ryan distanced himself from his running mate's remarks. take a look. >> both parties tend to divide americans into our voters and their voters. let's be really clear. republicans must steer far clear of that trap. we must speak to aspirations and anxieties of every american. >> you know, it's hardly a month
think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinton. it's helpful no one has run a campaign against clinton for the past four years and also helping her...
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think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. >>> never too early for pollsters to start head to 2016. guess who's looking very strong? hillary clinton. a new abc news/washington post poll say they would back hillary clinto
think of the economy as a car and the rich man is the driver. if you don't give the driver, ç he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best...
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lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and psonal attention. which is why we arare proud to parer with healh care professionals who understand the difference that quality time with our members can me... that's a very nice cake! ohh! [ giggles [ le announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals w helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in t
lou: great news on the economy, will higher taxes screw it up? two of the best economic thinkers join us, deutsche bank senior u.s. correspondents will be here joining us next. detroit on the edge of bankruptcy as city councilwoman with a rather direct, plain spoken solution saying it's simple. the city voted for obama. now obama must bail out mo-town, next. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the...
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stocks the economy no one no one has got the silver spike to put the zombie banks out of out of our misery well the fact is maybe snooki is going to be fine it's going to be the scum villages into which all the people are pushed because the bankers are building their own palaces their next door neighbors with baby snooki now he goes on to say and the whole then goes on to say if we are fortunate the cost of the crisis will be paid for by our children more likely it will still be being paid for by our grandchildren there is every reason why the general public ought to be deeply upset by what has happened and angry you see he's saying you're not only are your children but your grandchildren are going to be born in scum villages but this one thing getting you through your day is going to be kate's baby this is going to make you so happy and you know the fact is he saying is as bad as world war two and it was during world war two that people were put in containers to go live with nuisance people that people didn't like certain elites didn't like right well scapegoating in part of any austerity
stocks the economy no one no one has got the silver spike to put the zombie banks out of out of our misery well the fact is maybe snooki is going to be fine it's going to be the scum villages into which all the people are pushed because the bankers are building their own palaces their next door neighbors with baby snooki now he goes on to say and the whole then goes on to say if we are fortunate the cost of the crisis will be paid for by our children more likely it will still be being paid for...
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economy and affected by it. gone are the days when businesses relied solely on growing their customer base for domestic markets. today, 95% of the world's consumers live outside the united states, and we're producing for those consumers as well as domestic ones. one of the things that will help our economy improve at a faster rate would be to increase trade opportunities overseas for american businesses and farmers, increase trade helps create jobs, increase income and expand opportunities for innovation. and as we've seen over the course of history and also repeated what president john f. kennedy often spoke about, free and fair trade helps all boats rise. that is to say, countries willing to lower their trade barriers and allow fair and competitive trade will see growth in their economies. however, history also shows, even among nations with good relations, trade disputes still arise. that is why we need a forum to settle international disputes such as the world trade organization does. the w.t.o. allows ameri
economy and affected by it. gone are the days when businesses relied solely on growing their customer base for domestic markets. today, 95% of the world's consumers live outside the united states, and we're producing for those consumers as well as domestic ones. one of the things that will help our economy improve at a faster rate would be to increase trade opportunities overseas for american businesses and farmers, increase trade helps create jobs, increase income and expand opportunities for...
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economy keeping stocks from falling any further, though. the nikkei ended above that key 9,500 level for the first time since april. the shanghai composite edged down just over 0.1% after a pretty sharp rebound yesterday. south korea's kospi also managing gains. it closed higher by more than 0.1%. that put it at a seven-week high. let's move on to currencies now. dollar/yen right now is a little higher, seeing it at 82.35. market observers say investors are buying the dollar on optimism about the u.s. budget talks, but its advance has been capped today as many traders do remain on the sidelines ahead of u.s. jobs data, which is due out on friday. now, in terms of the euro, it's still holding pretty strong against the yen, right now at 107.70. >>> officials at japan's transport ministry have ordered airlines to inspect boeing passenger jets. they say state-of-the-art 787 dreamliners have had problems with their fuel lines. the emergency order followed a fuel leak in october involving a 787. that's flown by all nippon airways. they found that
economy keeping stocks from falling any further, though. the nikkei ended above that key 9,500 level for the first time since april. the shanghai composite edged down just over 0.1% after a pretty sharp rebound yesterday. south korea's kospi also managing gains. it closed higher by more than 0.1%. that put it at a seven-week high. let's move on to currencies now. dollar/yen right now is a little higher, seeing it at 82.35. market observers say investors are buying the dollar on optimism about...
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>> well, the economy was a very large issue. one of the interesting thing that happened was after the democratic convention which was very successful, i'll credit that. the right track of the country began to go up. and those that thought that the president was doing a good job on the economy went up. part of this is the democrats got energized and they were reminded what they liked about the president. of course president clinton did a good job. and the right track wrong track, he was right track of the country wrong track of the country among the electorates that actually voted was about 20 plus points closer than it was at the beginning of the race. so every campaign has to have a theory, and a rationale. and one of the key rationales of this campaign was worst economic crises since the depression, he inherited it but what has he done for it. when you look at the exit polls on those that cared about the economy the most, governor romney won. there just wasn't enough to win the election. >> rose: did you have the right theory
>> well, the economy was a very large issue. one of the interesting thing that happened was after the democratic convention which was very successful, i'll credit that. the right track of the country began to go up. and those that thought that the president was doing a good job on the economy went up. part of this is the democrats got energized and they were reminded what they liked about the president. of course president clinton did a good job. and the right track wrong track, he was...
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president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion a year in expenses. but they won't be cheap, resulting in a billion-dollar charge against fourth-quarter earnings. is this gloomy news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other workers in the last few years. the thing is, citi has a new c.e.o. in michael corbat, and experts say he's anxious to make his mark, even if that includes cutting staff. and the need to
president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion...
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and multiple other economies around the mediterranean and the euro zone itself banks are basically been left suddenly realizing that at the last that they've got to have this scrabble for cash and what they're going to be doing now is they're going to be sell anything armchairs asset eastern europe and bank subsidiaries you name it they are all going to be up for offer it what's going to be the incredible amazing discount sale of two thousand and twelve two thousand and thirteen oz western european banks try desperately to make themselves sufficiently solvent under what to be fair is a rather arbitrary new set of regulations which aren't necessarily in themselves going cura anything ok do you think as a final question patrick do you think there will be a unique unified e.u. regulates rebuilding for the banking sector. there are obviously great attempts to create this an obviously we already have a rip in banking agency that's trying to get into one of the biggest problems arky i would say is just money i mean we have one european banking regulator that's trying to regulate the whole eur
and multiple other economies around the mediterranean and the euro zone itself banks are basically been left suddenly realizing that at the last that they've got to have this scrabble for cash and what they're going to be doing now is they're going to be sell anything armchairs asset eastern europe and bank subsidiaries you name it they are all going to be up for offer it what's going to be the incredible amazing discount sale of two thousand and twelve two thousand and thirteen oz western...
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he said increased public investment and more monetary easing would spur the economy. but li called for flexible government policies if the situation in europe gets worse. >>> the new leader of the chooeds communist party is sending out mixed signals. xi jinping says he wants to pursue a peaceful foreign policy. at the same time, china is locked in territorial disputes with japan and several southeast asian nations over islands in the east and south china seas. xi told a group of foreign academics in beijing that china poses neither a challenge nor a threat. >> translator: looking at china's history, cultural traditions, and current conditions, china will never adopt a policy of dominance or expansionism. our prosperity will bring peace and will benefit the rest of the world. >> analysts say xi hopes to ease concerns that china's new leadership intends to adopt a more hard-line stance in diplomacy. however, on the same day, he told a senior military commander to strengthen missile units for possible conflict. xi has pledged to tackle corruption among party officials. h
he said increased public investment and more monetary easing would spur the economy. but li called for flexible government policies if the situation in europe gets worse. >>> the new leader of the chooeds communist party is sending out mixed signals. xi jinping says he wants to pursue a peaceful foreign policy. at the same time, china is locked in territorial disputes with japan and several southeast asian nations over islands in the east and south china seas. xi told a group of...
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it is being outcompeted by new emerging economy. we asked about the report the government makes for business and enterprise. it is fair to say that his answer has captured the imagination of all political parties that will respond formally in the spring. so here's what we will do now. first, government spending should be alone with the business community. we will provide new money to support the partnerships. from april 2015, the governmental elites one of the funding and get people back to work. the gross funds are having businesses get back into the game. we are going to support businesses and technologies where britain has a clear technology advantage. we will extend our global lead in aerospace and support the supply chain for advanced infection. we've also support british companies to new emerging markets in asia and africa and the americas. and increasing the funding for the uk by over 25% a year. so they can help more firms build the capacity of overseas british chambers and maintain our country's position as the number one d
it is being outcompeted by new emerging economy. we asked about the report the government makes for business and enterprise. it is fair to say that his answer has captured the imagination of all political parties that will respond formally in the spring. so here's what we will do now. first, government spending should be alone with the business community. we will provide new money to support the partnerships. from april 2015, the governmental elites one of the funding and get people back to...
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there's planning for a much more compressed economy. they'll be much more conservative. they're waiting and seeing. at this point, it really pivots. whether you're growing 2% or 3% as an economy or contracting 2% or 3%, that's a big delta to navigate through. they have plans in place for both scenarios. >> the plans in place, does that include layoffs? >> for some companies, as they're reporting themselves, it does. particularly depending on where the cuts come. remember, the cliff itself is a pretty austere measure. we're going to take spending not related to health care, social security to historic lows. industries like aerospace and defense in particular. through the defense cuts, they'll be substantially impacted. >> we'll leave it there. thanks for being on the program. >> thanks for having me. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods
there's planning for a much more compressed economy. they'll be much more conservative. they're waiting and seeing. at this point, it really pivots. whether you're growing 2% or 3% as an economy or contracting 2% or 3%, that's a big delta to navigate through. they have plans in place for both scenarios. >> the plans in place, does that include layoffs? >> for some companies, as they're reporting themselves, it does. particularly depending on where the cuts come. remember, the cliff...
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that that's not a big deal for the economy. everybody recognizes that it is. >> we keep hearing from critics that say, look, we get a frame work, it doesn't solve the long-term problems, it just kicks the can. you're in a position where you'll take some can kicking at this point, right? >> exactly. i mean, look, people like me started talking about this a year ago. i wrote a piece in the "wall street journal" in march about this. we have known about this forever, well, not forever, only since it started, and it's just being frustratingly little action. at this point i don't think they have the time to do a full deal and that's why they need to kick some cans. >> you say reaching a grand bar ga -- bargain is a dream and i mate be just that. there's a growing sense that the president in his words has won this round. do you think this is how it shaping up? >> i think so, i think he's got a much stronger bargaining position. he put out an officer that was way off where he knew republicans would be, prepared to come back on it. but
that that's not a big deal for the economy. everybody recognizes that it is. >> we keep hearing from critics that say, look, we get a frame work, it doesn't solve the long-term problems, it just kicks the can. you're in a position where you'll take some can kicking at this point, right? >> exactly. i mean, look, people like me started talking about this a year ago. i wrote a piece in the "wall street journal" in march about this. we have known about this forever, well, not...
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how is business in this economy? let's take a look at some of the winners on the nasdaq. ♪ want to try to crack it? yeah, th's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and oth health professionals who helped us achieve the hhest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones o matter most. i love you,randma! [ male announcer ] humana. ♪ connell: kobe bryant from the
how is business in this economy? let's take a look at some of the winners on the nasdaq. ♪ want to try to crack it? yeah, th's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the...
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never will but basically olympus has made very large losses going back two decades when the bubble economy of japan burst they were left with securities on the books of value book value and changes in japanese accounting rules would have meant they would have had to realize those losses and therefore they did what's called the bashing in japanese to make it fly go away in the used secret of balance she's cheap vehicles to buy the assets at the book price but then they had to pay back the balance sheet vehicles with real money and that's when the fraud came about these two transactions and now probably before we get into the broader issues probably some of our audience might be saying ok this guy came out with these revelations after he with fired why didn't he go to the authorities when he was c.e.o. if he wasn't getting his message across why did he come out later to the press to the financial times after he was fired i don't know if you've lived in japan or spent any time the have not no i mean japan is truly an alice in wonderland works to a different set of rules to anywhere else on th
never will but basically olympus has made very large losses going back two decades when the bubble economy of japan burst they were left with securities on the books of value book value and changes in japanese accounting rules would have meant they would have had to realize those losses and therefore they did what's called the bashing in japanese to make it fly go away in the used secret of balance she's cheap vehicles to buy the assets at the book price but then they had to pay back the...
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in our economy won't collapse. is a trading day it's right you know go for the job or trade or labor or discredit so that you can trade for other goods in the market. it's just a value system. but it itself is valueless i kid people. going to see the ship. going to see the sunken ship. on. her. like a fire going american thinker you. know. who . even. going to school up. the. ceiling with people. if. she can play a key. it is not god it's just life it is our money and the law you can actually let me eat let me let me let it lie against you i made. you want to make. you can i just get the air. and you know you i started coming here when my youngest son was ten months old and my older son was four and now they're seven and three and we're still coming kids home is the best place for families on the fly i think. i better than disney land values are more important and more useful. you know it's you don't teach them that they want they need to buy things to be happy here everyone just gives things and you take and there
in our economy won't collapse. is a trading day it's right you know go for the job or trade or labor or discredit so that you can trade for other goods in the market. it's just a value system. but it itself is valueless i kid people. going to see the ship. going to see the sunken ship. on. her. like a fire going american thinker you. know. who . even. going to school up. the. ceiling with people. if. she can play a key. it is not god it's just life it is our money and the law you can actually...
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find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into a report. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm trying hard welcome is a big issue. here watching all see life from all schools good to have you with us all stars he seems to be the future for britain at least for the government's extends its massive cuts program for five more years and to find finance minister waved away immediate protest saying talks hikes would help heal the country's ailing economy also has more now on london's proposed kewl. well everyone now madly picking their way through the facts and figures and wow was there a lot of. one thing that was very very clear and that's that the u.k. is set to face even more austerity no what those figures showed us was that the u.k. economy is going to shrink by not point one percent five hundred twenty twel
find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into a report. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm trying hard welcome is a big issue. here watching all see life from all schools good to have you with us all stars he seems...
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find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report. download the official publication to choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device to watch on t.v. any time of the. crime. good good. good . welcome back our guest michael wood for the exposed fraud at the japanese firm a limp this live to tell about it he's here on our set giving us the lessons that he feels not pulling any punches when it comes to japanese corporate governance and now i want to speak more broadly to you about the economy because you you worked there you were in a ploy of olympus for thirty years i know that entire time was not in japan but you spent years there in terms of corporate governance you called it an alice in wonderland experience but i'm i'm wondering what your assessment is macro economically because we hear about japan it's government debt but but demographically it's an aging population its birth rate is de
find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report. download the official publication to choose your language stream quality and enjoy your favorite. t.v. is not required to watch on t.v. all you need is your mobile device to watch on t.v. any time of the. crime. good good. good . welcome back our guest michael wood for the exposed fraud at the japanese firm a limp this live to tell about...
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this thursday also brought along very positive data from the german economy. the german manufacturing sector posted a significant increase of factory orders in october. something which gives hope for the industrial production in the months to come, and it also gives hope that the situation on the german labor market at least remains stable. >> let's take a quick look at some market numbers. the dax ended the day over 1% up at 7534. euro stoxx 50 close almost 0.5% up. across the atlantic, the dow jones is currently going up just a tad -- 13,043, the number there. the euro is trading for $1.2955. a legendary brazilian architect has died. he is best known as the father of brasilia, the modernist capital city erected in the amazon jungle. >> his future is to creations of concrete and steel won him international acclaim. he continue to work up until his death. he passed away at his home in rio de janeiro at the age of 104. >> he was a star of architectural modernism, best known for designing the new capital city of his homeland. he constructed the city of brasilia
this thursday also brought along very positive data from the german economy. the german manufacturing sector posted a significant increase of factory orders in october. something which gives hope for the industrial production in the months to come, and it also gives hope that the situation on the german labor market at least remains stable. >> let's take a quick look at some market numbers. the dax ended the day over 1% up at 7534. euro stoxx 50 close almost 0.5% up. across the atlantic,...
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plus, we turn back to the economy. milt tone freidman was a nobel peace prize winning economist, world famous. in light of the fiscal cliff hanger we are asking, what would milton do? the answer would surprise you. it's next. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios jon: right now, new information on crime stories we are watching. authorities in iowa working to identify remains discovered in woods in evans dale yesterday. authorities believe they are the bodies of two young cousins, an 11-year-old and a 9-year-old. those two little girls you probably remember vanished while riding their bikes five months ago. a manhunt on hawaii's big island. authorities are looking for two inmates who overpowered a guard and escaped from a correctional center. the two men are serving time for attempted murder and burglary. the family of a missing new york teenager releases an age-processed photo in hopes
plus, we turn back to the economy. milt tone freidman was a nobel peace prize winning economist, world famous. in light of the fiscal cliff hanger we are asking, what would milton do? the answer would surprise you. it's next. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios jon: right now, new information on crime stories we are watching. authorities in iowa working to...